Erick Daily
Senior Registered Associate
Phone:
(972) 943-7277(972) 943-7277
Morgan Stanley Private Wealth Management
Michael Tuscano
Managing Director,
Financial Advisor,
Alternative Investments Director,
Workplace Advisor – Equity Compensation,
Portfolio Manager
Direct:
(212) 503-1683(212) 503-1683
Industry Award WinnerMy Mission Statement
We understand the complexities of wealth and deliver tailored advice and solutions to help you achieve the financial goals you’ve set for you and your family.
DEALING WITH THE CHALLENGE OF ILLIQUID WEALTH
Michael founded the Cypress Grove Group at Morgan Stanley with the intention of meeting clients wherever they stand in their financial journey and helping them establish long-term relationships with advisors who understand the complexities of their personal and professional lives. His clients include executives at publicly traded companies and self-made entrepreneurs across the United States whose key concerns typically revolve around multigenerational wealth transfer, liquidity events, corporate compensation and tax mitigation. By working with a diverse range of successful clients over the years, Michael has seen the world from various perspectives, and he uses this experience to help clients anticipate what might lie ahead and how they may be able to position themselves to target their unique objectives. He is very process oriented in his approach, maintaining a disciplined methodology but pivoting tactically as needed in response to clients’ changing circumstances and objectives or evolving market and economic environments.
For nearly three decades, Michael has focused on identifying opportunities for his clients, find solutions to their challenges and scaling up his resources to meet their needs and goals. He began his financial services career in 1998, building his business from scratch and joining Morgan Stanley in 2005 in order to gain access to the firm’s broad and deep platform of resources. By choosing to establish his team at Morgan Stanley, Michael has the capacity to bring its full spectrum of financial tools to his clients—both what they need today and what they might grow into in the future.
Michael and his wife, Erica, have three children—Letta, Gray and Rhett—and the family is very active in school, sports and church activities. In his free time, Michael enjoys tournament fishing, free diving and long-distance open-water swimming. He also spearheads the team’s charitable initiatives, including corporate sponsorship of organizations that are very important to his clients.
For nearly three decades, Michael has focused on identifying opportunities for his clients, find solutions to their challenges and scaling up his resources to meet their needs and goals. He began his financial services career in 1998, building his business from scratch and joining Morgan Stanley in 2005 in order to gain access to the firm’s broad and deep platform of resources. By choosing to establish his team at Morgan Stanley, Michael has the capacity to bring its full spectrum of financial tools to his clients—both what they need today and what they might grow into in the future.
Michael and his wife, Erica, have three children—Letta, Gray and Rhett—and the family is very active in school, sports and church activities. In his free time, Michael enjoys tournament fishing, free diving and long-distance open-water swimming. He also spearheads the team’s charitable initiatives, including corporate sponsorship of organizations that are very important to his clients.
Services Include
- Investment: Asset allocation, Asset location, investment management, alternative investments, private portfolio management
- Equity Compensation: Restricted stock sale, portfolio loan, gifting of stock, purchases, 10b5-1 plan
- Business Monetization: Recapitalization, IPO, sale to strategic acquirer, sale to private equity investor, sale to an ESOP
- Risk: Investment and financial, life and disability insurance, life insurance trusts, long term care insurance
- Lending and Cash Management
- Lifestyle: Balance sheet, cash flow, education spending, retirement plans, annuities
- Family Governance and Wealth Education: Governance structures, documents, wealth education plans
- Philanthropy Management: Charitable giving, philanthropic services (advisory, giving, connections)
- Disclaimer: Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
- Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third‐party corporate trustee.
Securities Agent: TX, VT, RI, NM, WY, WV, WI, WA, VI, VA, UT, TN, SD, SC, PR, PA, OR, OK, OH, NY, NV, NJ, NH, NE, NC, MT, MS, MN, MI, ME, MD, MA, LA, KY, IN, IL, ID, IA, HI, GA, FL, DE, DC, CT, CO, CA, AZ, AR, AL, ND, KS, AK, MO; General Securities Representative; Investment Advisor Representative; Managed Futures
NMLS#: 1301091
NMLS#: 1301091
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.*
About PWM
Founded in 1977, Private Wealth Management is the division of Morgan Stanley Wealth Management that is dedicated to serving the firm’s most affluent clients, including some of the world’s most accomplished entrepreneurs, executives and stewards of multigenerational wealth. Functioning as an exclusive investment boutique within a global financial firm, we deliver sophisticated solutions that leverage the intellectual capital and insight of Morgan Stanley’s substantial global resources. Drawing on a deep understanding of your financial life, our goal is to help you:
- Manage investments with an unwavering focus on your financial strategy and personal goals
- Create comprehensive, multigenerational wealth management plans based on your needs, challenges and the values that guide your life and legacy
- Simplify financial complexity to help you achieve clarity and control
Private Wealth Management Highlights
- Approximately 300 teams specialized in assisting individuals and families with $20MM+ in investable assets
- Over $1.2 trillion in AUM
- Comprising 26% of the Barron’s Top 100 Financial Advisors list for 2025
- Direct access to ultra high net worth experts in philanthropy, family dynamics, wealth transfer, lifestyle advisory and other areas of interest to ultra high net worth families
1 Morgan Stanley Wealth Management, September 2025
Source: Barron's (Awarded March 2025) This ranking was determined based on an evaluation process conducted by Barron's for the period Oct 2023-Sept 2024. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to Barron's to obtain or use the ranking. This ranking is based on an algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the assessment of Barron's and may not be representative of any one client’s experience. This ranking is not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with Barron's. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved.
The Challenge of Concentrated Stock Positions
There are many reasons you've had a successful career. You're among the best at what you do. You're an innovator. But perhaps most important of all, you're an enterprise leader with the dedication and vision to value the organization's interests as much, if not more than, those of your own unit or department. That's why you've been rewarded with sizable equity compensation in the form of stock grants or options.
While you have additional assets in your retirement plan, other investment accounts, insurance, and real estate, this concentrated stock position in your company represents a significant part of your total wealth. This also represents significant challenges, such as tax implications, liquidity limitations, and potential volatility. You need the help of someone who understands the complex regulations as well as the potential political ramifications surrounding equity compensation.
How We Can Help
The Cypress Grove Group at Morgan Stanley specializes in helping executives manage equity compensation issues and craft bespoke, all-inclusive wealth plans. Drawing on our team's experience and expertise, as well as Morgan Stanley's resources, we help corporate insiders navigate insider trading regulations and reporting requirements.
We can suggest tax-efficient approaches to diversification and strategies to address cash flow needs before stock liquidity is available.
- Exchange Funds: Provide diversification without triggering taxable gains through IRS-approved tax-deferred investment vehicles
- Opportunity Zone Investments
- Donor Advised Funds: Gifting appreciated long-term gain stock to offset income tax in a year when there is a liquidity event
- Portfolio Line of Credit: Borrowing against stock in a portfolio line as needed for immediate cash flow requirements
- 10b5-1 Plans: Preset diversification plans to sell through open and closed windows, approved by legal counsel and executed by third parties
- QSBS Exclusion: Gain from the sale or exchange of qualified small business stock (QSBS) may be 100% excluded from income
THE CHALLENGE OF MONETIZING BUSINESS VALUE
You've devoted yourself to building your own business. It was never really about the money; that was just a way to keep score. It was actually about pursuing your passion, being your own boss, challenging the status quo, and creating something lasting. Through your ingenuity, determination and grit, you've achieved success.
Now you're ready for another challenge, you'd like to spend more time with your family, or both. But you have substantial net worth that's difficult to access. You know your success in business doesn't automatically qualify you to steer your family through this very complex transition. You need advice and guidance from a team with the expertise and experience to help you manage what could be the transaction of a lifetime.
How We Can Help
The Cypress Grove Group at Morgan Stanley specializes in working with entrepreneurs just like you. We help you leverage personal wealth for business growth or liquidity as well as examine potential exit strategies in light of family as well as financial needs.
Drawing on our in-house expertise and the resources of Morgan Stanley we can help you through every stage in the life of a successful entrepreneur:
- Strategic Client Group / Investment Bank (private sale)
- IPO
- Generation: gain access to liquidity for business and personal use through approaches best suited to your needs and circumstances
- Monetization: model alternative strategies to monetize the value of your enterprise and consider how the proceeds hold be structured and invested
- Retirement: calculate cash flow needs, determine post career priorities and implement succession plans for continued family ownership
- Transfer: prepare younger generations with the education and support needed to assume control of family business and philanthropic legacies
THE CHALLENGE OF INTERGENERATIONAL WEALTH
You've been so dedicated to your company's needs that you probably never focused on the wealth you've built. Now that you've integrated the value of your concentrated stock into your plan or monetized the value of your business, you've found that your hard work has potentially provided generational wealth for your family. This realization raises family, lifestyle, and values questions as well as financial issues.
How much of your wealth do you want your heirs to inherit and are they prepared intellectually and emotionally to manage it? How can you make sure the money you donate is used effectively and how can you get your family interested in philanthropy? How can you develop a trust, tax and estate strategy and overall wealth plan that will provide for your current and future needs as well those of your heirs and causes?
How We Can Help
The Cypress Grove Group at Morgan Stanley can help you answer these questions and address these challenges. We bring the same level of attentiveness and service to all the issues you're facing, not just those involving your compensation, business, and finances.
Thanks to the resources available from Morgan Stanley we can provide you with comprehensive family office style services.
Tax, Trust and Estate Planning
We will coordinate with your other advisors to explore the elements of your existing TTE plan and see how it works with your wealth plan and if changes need to be made.
Philanthropic Advisory
We will help you and your family create a mission statement and a charitable giving plan that matches your values as well as your needs.
Family Governance and Education
We will work with your family to ensure that they have the knowledge and understanding to play whatever role in the family's wealth future that you and they wish.
Lifestyle Services
We can offer you access to specialists who can help you with travel and concierge services, health and security advisory, tangible asset management, personal enrichment and financial administration.
Art Resources Team
Morgan Stanley's Art Resources Team can help you craft bespoke solutions regarding the art and collectibles which may make up a portion of your assets.
Location
7500 Dallas Parkway
Suite 500
Plano, TX 75024
US
Direct:
(212) 503-1683(212) 503-1683
Fax:
(646) 862-9725(646) 862-9725
7500 Dallas Parkway
Suite 500
Plano, TX 75024
US
Meet My Team
Awards and Recognition
Forbes Best-In-State Wealth Management Teams
2025-2026 Forbes Best-In-State Wealth Management Teams Source: Forbes.com (Awarded 2025-2026). Data compiled by SHOOK Research LLC based on 12-month time period concluding in March of year prior to the issuance of the award.
Barron's Top 100 Institutional Consulting Teams
Barron's Top 100 Institutional Consulting Teams Source: barrons.com (Awarded April 2023) Data compiled by Barron's based on time period from Dec 2021 - Dec 2022.
Forbes Best-In-State Wealth Advisors
Forbes Best-In-State Wealth Advisors Source: Forbes.com (Awarded April 2025) Data compiled by SHOOK Research LLC for the period 6/30/23 - 6/30/24.
Barron's Top 1,500 Financial Advisors: State-by-State
Barron's Top 1,500 Financial Advisors: State-by-State Source: barrons.com (Awarded Mar 2026) Data compiled by Barron's for the period October 2024 - September 2025.
4
Wealth Management
Global Investment Office
Portfolio Insights
This is a video content
Retirement
Working with you to understand your life goals and develop a personalized wealth strategy. Today and for the years to come.
- 401(k) Rollovers
- IRA Plans
- Retirement income strategies
- Retirement plan participants
- Annuities
A Simple Six-Step Retirement Checkup
Article Image
Investing
Working closely with you to guide your wealth and investments through the most challenging market cycles.
- Asset Management
- Wealth Planning
- Traditional Investments
- Alternative Investments
- Impact Investing
Iran Conflict: Seven Takeaways for Investors
Article Image
Family
Creating customized financial strategies for the challenges that today’s families face.
- Estate Planning Strategies
- 529 Plans / Education Savings Planning
- Long Term Care Insurance
- Special Needs Planning
- Trust Services
529 Plans: A Powerful Tool to Save for Education
Article Image
Business Planning
Helping you on key aspects of your business such as ownership, liquidity and developing opportunities.
- Succession Planning
- Business Planning
- Qualified Retirement Plans
Financial Planning for Life After Selling a Business
Article Image
Philanthropy
Making sure your philanthropic dollars are managed with the same high quality service as the rest of your wealth.
- Endowments
- Foundations
- Donor Advised Funds
- Impact Investing
Insights and Outcomes
Thought Leadership for our ultra high net worth clients, which contains thought-provoking articles, authored by leading experts from Morgan Stanley Family Office Resources.
Managing Significant Wealth
- Investment Management
- Wealth Transfer & Philanthropy
- Cash Management & Lending
- Family Governance & Wealth Education
- Lifestyle Advisory
- Business Services
PWM Leadership Insights & Outcomes
Article Image
Private Wealth Management Podcast
Bringing you engaging stories and key insights surrounding the complexities associated with significant wealth, including:
- Intergenerational Planning
- Philanthropic Giving
- Non-Traditional Assets
- Managing Family Wealth
Financial Wellness
Enhancing Financial Wellness enables your workforce to do their best work. Companies that invest in financial wellness have an opportunity to:
- Reduce employee stress,
- Improve retention and engagement, and
- Set themselves apart by offering comprehensive financial wellness benefits.
We look forward to discussing your needs and goals, and the exceptional resources we can place at your disposal.
1Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.
Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
See the Financial Advisors Biographies for Registration and Licensing information.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Lifestyle Advisory Services: Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Awards Disclosures | Morgan Stanley
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
2Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
Morgan Stanley Smith Barney LLC does not accept appointments nor will it act as a trustee but it will provide access to trust services through an appropriate third-party corporate trustee.
Asset Allocation does not assure a profit or protect against loss in declining financial markets.
The securities/instruments, investments and investment strategies discussed on this website may not be suitable for all investors. The appropriateness of a particular investment or investment strategy will depend on an investor's individual circumstances and objectives. The views and opinions expressed on this website may not necessarily reflect those of Morgan Stanley Smith Barney LLC (“Morgan Stanley”). This website and its associated content are intended for U.S. residents only.
Morgan Stanley and its Private Wealth Advisors do not provide tax or legal advice. Visitors to this website should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.
Morgan Stanley Private Wealth Advisers may only transact business in states where they are registered or excluded or exempted from registration. Transacting business, follow-up and individualized responses involving either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made to persons in states where Morgan Stanley Private Wealth Advisers are not registered or excluded or exempt from registration.
For more information, please see the Morgan Stanley Smith Barney LLC Client Relationship Summary.
See the Financial Advisors Biographies for Registration and Licensing information.
Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management Analyst® (with graph element)®, and Certified Investment Management Analyst® .
Morgan Stanley Smith Barney LLC offers insurance products in conjunction with its licensed insurance agency affiliates.
Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC's licensed insurance agency affiliates.
Lifestyle Advisory Services: Products and services are provided by third party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any input concerning such products or services. There may be additional service providers for comparative purposes. Please perform a thorough due diligence and make your own independent decision.
Private Bankers are employees of Morgan Stanley Private Bank, National Association.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
Awards Disclosures | Morgan Stanley
CRC 4677197 (7/2025)
